Term Insurance Calculator

Term insurance calculator is created for customizing the monthly or annual premiums that policyholder needs to pay regarding the policy. The term insurance premium calculator is a simple and helpful tool to calculate the sum assured premium offered by different insurers that an individual needs for securing the financial future of his/her family. With the use of this term insurance calculator, you can compare several term insurance policies that meet your budget needs.

The online term insurance calculator is easy and hassle-free can be used for free of cost. An individual can personalize the term insurance calculator as per their requirement. After you get the idea about how much amount you have to pay for your family’s financial security needs, you can also analyze the coverage you get in the policy.

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99 years

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Upto 99.9%

*Tax benefit is subject to changes in tax laws. *Standard T&C Apply

** Discount is offered by the insurance company as approved by IRDAI for the product under File & Use guidelines

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What Are The Factors Included In Term Insurance Premium?

Term insurance premiums can be calculated by using a term insurance calculator from the online portal where we have a team of dedicated agents to help you with your life insurance requirements. The term insurance premium is calculated based on the age of the customer; Sum assured opted, Gender, and Food habits.

Age

Term insurance premium is based mainly on the age of the customer. If lower the age of the policyholder, lower would be the term insurance premium. This is due to the increase in mortality rate with the increase in age of the people. It is advisable to take a term insurance policy at a very young age to reduce the premium amount payable during the policy period.

Gender

Term insurance premium changes with the gender of the customer as well. This is due to the loss ratio experienced by the insurance companies. The premium for Male policyholders of the same age and same sum assured would be higher than that of the Female policyholder due to the mortality rate being high in the Male population in comparison to the female population.

Sum Assured

Sum assured is the maximum liability of the insurance company in case of the death of the policyholder. The sum assured selected by the policyholder decides the premium under the life insurance policy. Higher the sum assured, higher would be the premium to be paid under the term insurance policy.

Lifestyle

The lifestyle of a person decides the life insurance premium to be paid. Lifestyle includes Smoking and drinking habits, entertainment in risky works, etc. In comparison, the life insurance premium of a smoker and drinker would be high than that of a teetotaller. This is due to the increase in the risk of death due to diseases and illness.

How To Calculate Term Insurance Premium Calculator Online?

A term insurance calculator can be used from the online portal to calculate your term insurance premium.

Step 1

Enter the details such as Gender, Annual income from the beginning, and tobacco consumption, Salaries or Self-employed, and Date of Birth. After this, you need to enter your contact details to walk through a call from our agent.

Step 2

Now the premium from different insurance companies will be displayed on the screen. Add-ons are applicable and you can edit the details such as Coverage, Term, Premium payment method, Mode of claim settlement, etc. Submit the details to get the desired premium. The premium can be changed by changing other factors such as Coverage required, mode of payment, etc.

Step 3

The next step is to select the best life insurance plan and pay the premium to the insurance company, before proceeding to fill the proposal form details.

Benefits Of Term Insurance Premium Calculator

Below are some of the benefits that how term insurance premium calculator is useful for choosing the right plan by comparing the term insurance calculator is explained below:-

Save Time

The term insurance calculator can help save your precious time by comparing the quotes online within 5 minutes. It is not required to submit any documents to get premiums. After the selection of the best term plan, you can pay online without any interaction with agents.

Single Platform

The term calculator tool provides to choose the best term plan offered by companies on a single platform easily without switching to different sites.

Low premiums

Each company that offers new discounts and better plans every year and also buy insurance online will make customer's thoughts cost-effective. Compare quotes with various insurers and choose a better plan to save extra in your pockets.

Easy Budget

While comparing the term insurance policy between different insurance companies online one can get a clear estimation of which careers have low premiums and high coverage, how much premium you have to pay for your coverage with covering all financial obligations.

Better Perspective

If an individual wants to buy a term insurance plan needs to know what coverage and budget he/she fulfill their financial burdens. Firstly analyze each plan by calculating term insurance premium online and it will be easy to get budget purchase and provides a better idea of cover with a term plan.

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